Sygnum adds ATOM custody and staking and launches Cosmos validator node

Zurich, 9 May – Sygnum announces the addition of Cosmos’ native token ATOM to its expanding portfolio of regulated digital asset banking products and services.

  • Sygnum clients can now conveniently buy and hold ATOM on its institutional-grade platform and stake their holdings to earn attractive staking rewards
  • Sygnum also launches Cosmos Hub validator node to contribute governance and security expertise to the network’s growing ecosystem of app-chains
  • ATOM’s ecosystem of independent but interoperable blockchains has over USD 1bn TVL[i] and a market capitalisation of USD 3.1bn[ii]

From today, Sygnum clients can buy, hold and stake Cosmos’ native token ATOM and earn attractive staking rewards. Sygnum’s ATOM custody and staking services are fully integrated with its regulated banking platform, and are backed by institutional-grade security features, including client wallets held off-balance sheet, secure private key management and advanced multi-layer security infrastructure. Sygnum already offers staking services for other leading protocols including Ethereum (ETH), Cardano (ADA), Tezos (XTZ) and Internet Computer (ICP).

In addition to the launch of ATOM custody and staking services, Sygnum is also actively contributing to the Cosmos network’s security and governance by launching and operating a Cosmos Hub validator node. As a crypto-native bank, Sygnum actively contributes to the community development of projects like Cosmos, as well as other leading networks including Klaytn, DFINITY and zkSync.

Launched in 2019, Cosmos was developed to streamline interactions between different blockchains without requiring a centralised server. In what Cosmos describes as an “Internet of Blockchains”, multiple blockchains like Osmosis or Thorchain can remain sovereign and independent but also be fully interoperable. A number of other leading projects including dYdX and Circle have recently signalled their intent to launch their own Cosmos chains.

ATOM is the native cryptocurrency that underpins the security, operations and scaling of the Cosmos ecosystem of blockchains. With over USD 1bn in Total Value Locked (TVL) and a market capitalisation of USD 3.1bn, the Cosmos app-chain ecosystem is set to benefit from the forecasted future growth of the crypto app-chain sector.

Rico Müller, Sygnum VP Ventures & Partnerships says: “Cosmos plays an important role in the crypto space, championing the app-chain model that has also shaped Ethereum’s scaling roadmap. We are proud to support the Cosmos ecosystem governance and scalability by launching and operating one of their validator nodes.”

Thomas Brunner, Sygnum Head of Accounts & Custody adds: “After being the first bank to offer regulated Ethereum staking in July 2021, we have continued to expand our range of staking investment opportunities. Our clients can now also receive passive income from their ATOM holdings alongside benefiting from future capital appreciation opportunities.”

ENDS

References
[i] https://defillama.com/chains/Cosmos
[ii] https://coinmarketcap.com/currencies/cosmos/

About Sygnum

Sygnum is the world’s first digital asset bank, and a digital asset specialist with global reach. With Sygnum Bank AG’s Swiss banking licence, as well as Sygnum Pte Ltd’s capital markets services (CMS) licence in Singapore, Sygnum empowers professional and institutional investors, corporates, banks, and other financial institutions to invest in the digital asset economy with complete trust. Sygnum operates an independently controlled, scalable, and future-proof regulated banking platform. Our interdisciplinary team of banking, investment, and Distributed Ledger Technology (DLT) experts is shaping the development of a trusted digital asset ecosystem. The company is founded on Swiss and Singapore heritage and operates globally. To learn more about Sygnum, please visit www.sygnum.com.

Media Contact
Dom Castley
T +41 58 508 20 18
[email protected]

Sygnum Bank AG
Uetlibergstrasse 134a
8045 Zurich
Switzerland

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This document was prepared by Sygnum Bank AG. This document may contain forward looking statements and may be subject to change. The opinions expressed herein are those of Sygnum Bank AG, its affiliates, and partners at the time of writing. The document is for informational purposes only and contains general material. It is for use by the recipient only. It does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum Bank AG to purchase or sell assets or securities. It is not intended to be used as a general guide to investing, and should be used for informational purposes only. When making an investment decision, you should either conduct your own research and analysis or seek advice from an expert to make a calculated decision. The information and analyses contained in this document have been compiled from sources believed to be reliable. However, Sygnum Bank AG makes no representation as to its reliability or completeness and disclaims all liability for losses arising from the use of this information.

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